What defines a leasehold estate?

A leasehold estate is defined by a tenant's right to occupy real estate during the lease term. This legal arrangement grants the tenant occupancy and use of the property for a specified period, as outlined in the lease agreement. During this term, the tenant has a controlled right to the property, effectively allowing them to live in or utilize the space according to the terms mutually agreed upon with the landlord.

This relationship is characterized by the fact that ownership of the property remains with the landlord, while the tenant holds a temporary interest that is limited to the duration of the lease. Essentially, a leasehold estate creates a legal framework where the tenant can benefit from the use of the property without owning it outright, differentiating it from other types of property interests.